IAN had earlier invested in Ingenium last year and after seeing the growth and development made by the startup IAN has invested again. Incubated and mentored by India Accelerator, the startup is providing SaaS platform to small and medium-sized institutes and enabling them to expand and manage their business better.
There are about 6 million small and medium institutes in the country. The current covid situation and increase of competitive EdTech companies have forced these institutes to embrace digitization.
Ingenium is offering a full-stack digitization platform to these institutes where they can take their institute fully online and grow themselves. Adaptive assessment, in-depth academic analysis, real-time teacher-student-parent interaction are encouraging these institutes to adopt the platform.
Commenting on the investment, Pramudit Somvanshi, CEO of Ingenium said, “We are thrilled with the opportunity that this investment round has given to us. It will help us to scale, hire more people, make our product seamless for our customers, and introduce new features and revenue streams.”
Anshu Gupta, ex AVP Investments HT Media and a prominent angel investor, who participated in the round through IA’s iAngel Network said, “We are impressed with the idea of Ingenium and excited to back a tech-enabled EdTech startup that is committed to bringing a change in the existing education system. The perseverance of the founders and the relentless efforts of their team in reaching out to the institutes and academic channel partners displays their deep understanding and dedication to be a forerunner in the market.
We are confident that Ingenium is will be consistent in offering a distinguished product to educators of Bharat with a sustainable business model.”
To reach the predicted scale, Ingenium will focus on creating channel partnerships with existing resellers in the market, hyperlocal companies in tier 2 and tier 3 cities. It will give the huge boost that the company needs for realizing the projected scale of business.
Moreover, the startup will be strongly working on adding new revenue sources by focusing on new opportunities such as B2B marketplace, content subscription, and adaptive assessments. As a result, Ingenium can focus on building a distinguished market identity.
Established in May 2018 by PramuditSomvanshi (IIT Roorkee 2018), Mohit Patel (IIT Roorkee 2018), and Aakash Gupta (IHM Mumbai, 2017), Ingenium offers state of the art mobile application and web portal to coaching institutes, schools, home tutors, and parents.
The app claims to have a combination of administrative, academic, and marketing features. In a short time, the startup has connected more than 150,000 students, 3,000 teachers in nearly 100 cities all over the country as of 30 April 2021.
Moreover, the startup is observing its best month concerning sales during April 2021 and is set to grow even further.
Ingenium seems to be an interesting Software-as-a-service (SaaS) platform for providing online education solutions especially given the current situation. This startup seems to have great growth prospects. My best wishes to the team of Ingenium.Shishir Gupta, Founder and CEO, StartupLanes
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